Wealthy account holders in Cyprus could lose more than half of their cash under crippling new bailout terms announced yesterday.

The Bank of Cyprus plans to hold 60 percent of deposits greater than $128,220 — some of which will be converted into shares, and the rest of which will be held in case the finances of the teetering Mediterranean nation’s economy turn out to be worse than expected.

The remaining 40 percent will be frozen, but will accrue interest.

The shares are intended for depositors to eventually recover cash — but they’re basically worthless right now. Europe wants big depositors in the country’s two largest banks to take a hit to pay for its $13 billion bailout.

Cypriot banks have long been regarded as a haven, particularly for Russians — but the new measures could end that.

The news came after banks opened Thursday after being shuttered for 12 days.

Bank customers can also only take out $384 at a time, and are barred from taking more than $1,282 when they leave the country.